Reapplication?

Hi, I applied to ESS MSc in the spring round of 2026 as a non-Bocconi Italian applicant. Had 40.0 on the test and 30.18 GPA (plus Erasmus at an excellent university); I got in, but without Merit award, so unfortunately I had to decline the offer as I would not have been able to bare the tuition costs. Should I try again this early session or give up? If not, how should I improve my chances of a scholarship? My GPA has gotten a little better. Do you think I should focus on internships/work experience or on writing a better motivation letter? Also, do my chances decrease if I have a gap year? Thanks.